The Vietnamese government has again raised the import tariff on petroleum as global oil prices continue to drop. It raised the tax to 15 percent from 10 percent through a new decision signed Monday by the Finance Deputy Minister Truong Chi Trung.
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The Vietnamese government has again raised the import tariff on petroleum as global oil prices continue to drop.
It raised the tax to 15 percent from 10 percent through a new decision signed Monday by the Finance Deputy Minister Truong Chi Trung.
Unleaded and leaded petrol, solvent, turbine fuel, and lubricants will all attract the new rate.
Oil prices hover at around US$60 a barrel at Vietnamese ports – the lowest level in the last six months.
Some experts said despite the 15 percent import tax and 10 percent value-added tax and special consumption tax, importers were still making a profit on petroleum.
Last year’s oil subsidy bill was VND10 trillion ($628 million) and the figure is forecast to be VND8-9 trillion ($499 – 561 million) this year.
(Source: Thanhniennews)
